Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) Receives $111.22 Consensus Price Target from Brokerages

Key Points

• Analysts have given Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) an average rating of "Moderate Buy", with a twelve-month target price averaging $111.22.
• The company reported strong quarterly earnings with an EPS of $1.52, surpassing the consensus estimate of $0.81.
• Recent trading showed notable activity, with institutional investors holding 92.26% of the stock, indicating strong investor confidence in the company.

Shares of Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $111.2222.

Several research analysts have recently weighed in on FWONK shares. The Goldman Sachs Group restated a "buy" rating and set a $120.00 target price on shares of Liberty Media Corporation - Liberty Formula One Series C in a report on Tuesday, July 22nd. Bank of America began coverage on Liberty Media Corporation - Liberty Formula One Series C in a research note on Monday, August 4th. They set a "neutral" rating and a $110.00 target price for the company. UBS Group upped their price target on Liberty Media Corporation - Liberty Formula One Series C from $98.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Wells Fargo & Company cut their price objective on Liberty Media Corporation - Liberty Formula One Series C from $87.00 to $86.00 and set an "underweight" rating for the company in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Liberty Media Corporation - Liberty Formula One Series C from $108.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 21st.

Liberty Media Corporation - Liberty Formula One Series C Price Performance

FWONK stock traded down $2.30 during trading on Friday, hitting $99.20. The stock had a trading volume of 403,790 shares, compared to its average volume of 1,162,512. Liberty Media Corporation - Liberty Formula One Series C has a twelve month low of $74.34 and a twelve month high of $106.26. The stock has a market capitalization of $22.18 billion, a P/E ratio of 97.10 and a beta of 0.46. The company's 50-day moving average price is $101.11 and its two-hundred day moving average price is $95.08.

Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.71. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.28 billion. As a group, sell-side analysts expect that Liberty Media Corporation - Liberty Formula One Series C will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Liberty Media Corporation - Liberty Formula One Series C news, Director Malcolm Ian Grant Gilchrist sold 868 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.11, for a total transaction of $84,291.48. Following the transaction, the director directly owned 1,781 shares in the company, valued at $172,952.91. This represents a 32.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Liberty Media Corporation - Liberty Formula One Series C

Several hedge funds and other institutional investors have recently made changes to their positions in FWONK. Russell Investments Group Ltd. boosted its holdings in shares of Liberty Media Corporation - Liberty Formula One Series C by 22.7% in the first quarter. Russell Investments Group Ltd. now owns 128,702 shares of the company's stock valued at $11,570,000 after acquiring an additional 23,809 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 405,019 shares of the company's stock valued at $37,529,000 after acquiring an additional 4,897 shares in the last quarter. California State Teachers Retirement System increased its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 350,938 shares of the company's stock valued at $32,518,000 after acquiring an additional 6,297 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in Liberty Media Corporation - Liberty Formula One Series C by 22.3% during the 1st quarter. HighPoint Advisor Group LLC now owns 4,278 shares of the company's stock valued at $382,000 after acquiring an additional 779 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Liberty Media Corporation - Liberty Formula One Series C by 1,378.8% during the 1st quarter. Versant Capital Management Inc now owns 2,159 shares of the company's stock valued at $194,000 after acquiring an additional 2,013 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company's stock.

Liberty Media Corporation - Liberty Formula One Series C Company Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.